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jack lew, the budget chief in the clinton administration, in the obama administration in the white house is basically saying that's why they chose him, the mastery of the federal budget. >> jack knows that every number on a page, every dollar we budget, every decision we make has to be an expression of who we wish to be as a nation. our values. the values that say everybody gets a fair shot at opportunity. and says that we expect all of us to pull fill our or individual obligations. >> reporter: republicans say that the lack of willingnesses to address entitlement spending and saying signals that the president -- this is senator mike lee -- will continue to pursue the same failed policies of the previous four years, higher taxes, more spending and more debt. it virtually guarantees the president will not compromise on entitlement reform. also hearing similar sentimentses from other republican senators and also from the left. senator bernie sanders is an independent from vermont, though he caucuses with the republicans, saying we need a treasury secretary to stand up to corporate america,
jack lew, the budget chief in the clinton administration, in the obama administration in the white house is basically saying that's why they chose him, the mastery of the federal budget. >> jack knows that every number on a page, every dollar we budget, every decision we make has to be an expression of who we wish to be as a nation. our values. the values that say everybody gets a fair shot at opportunity. and says that we expect all of us to pull fill our or individual obligations....
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lew currently serves as the chief of staff in the obama administration and could become treasury secretary when timothy geithner leaves later this month. joining us now via skype with insights is jim bianco of bianco research. how is wall street responding? > > lukewarm on the jack lew nomination. they're not really that thrilled. > other than lew's poor penmanship, how well will lew's no-drama approach play out in the upcoming debt ceiling talks? > > in the debt ceiling talks it is going to be interesting. other than the no drama, he has got a history of being confrontational with republicans, and that is going to be difficult because that is who he's got to deal with. > didn't he once work on wall street? > > briefly at citibank for a couple of years around the time of the financial crisis. > do you think the republicans will go along with his nomination? > > i think at the end of the day he will probably get the nomination, but it won't be without a lot of skepticism and a lot of thought about whether or not they could have found a better person. > jim bianco, good to talk to you today.
lew currently serves as the chief of staff in the obama administration and could become treasury secretary when timothy geithner leaves later this month. joining us now via skype with insights is jim bianco of bianco research. how is wall street responding? > > lukewarm on the jack lew nomination. they're not really that thrilled. > other than lew's poor penmanship, how well will lew's no-drama approach play out in the upcoming debt ceiling talks? > > in the debt ceiling talks it...
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administration and in a place that values loyalty like a lot of white houses, and the question becomes does he have other critical qualifications that say wall street or the international banking and financial system would require, with the big question being, you know, if we were at a place where there was another financial crisis, how well would jack lew, as did robert ruben, hank paulsen and tim geithner do to instill confidence? >> steve, you were right on the money with the jack lew prediction. you and i had this conversation, but i just wonder, you know, there's this antagonistic relationship between the white house and business. >> right. >> there were a handful of business guys in the mix that wanted the job. larry fink. would it be sort of better as a perception from the market or perception of business to put a business guy in there to help the relationship, help the togetherness of business in washington so we actually get some job creation going? what's your take on this choice? >> i don't disagree with the signal that could have been sent had somebody else been chosen. >>
administration and in a place that values loyalty like a lot of white houses, and the question becomes does he have other critical qualifications that say wall street or the international banking and financial system would require, with the big question being, you know, if we were at a place where there was another financial crisis, how well would jack lew, as did robert ruben, hank paulsen and tim geithner do to instill confidence? >> steve, you were right on the money with the jack lew...
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before joining the obama administration, he was a chief f operating officer at the citigroup alternative investments unit reported lost money to do that, although it earned profits from betting against the subprime mortgage market and will be if the fed to confirm him in one predicts very contentious process. >> it is a bumpy confirmation process. many people have no secure treasury will tell them the truth both of financial conditions of this country and lay out a plan that can be analyzed and studied it will hold up under scrutiny. they haven't done that from the white house yet. he has had a failure to lead. speaking of the republican complaint, difficult to work with during 2011 debt ceiling debate, probably a plus for the president. i do. cheryl: probably why he did that. thank you. dennis: a billion smart phones can be sold this year, live at the consumer electronics show coming up with a ceo whose company will benefit from that time. plus how you can make some smart money on smart phones. cheryl: it is the worst flu season on record in a new report says this deadly strain of flu c
before joining the obama administration, he was a chief f operating officer at the citigroup alternative investments unit reported lost money to do that, although it earned profits from betting against the subprime mortgage market and will be if the fed to confirm him in one predicts very contentious process. >> it is a bumpy confirmation process. many people have no secure treasury will tell them the truth both of financial conditions of this country and lay out a plan that can be...
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connell: his background, the clinton administration, he came there with the same job with the obama administration. he used to be more "reasonable." he is a much tougher negotiator. >> i suspect no matter who the president is that someone has to think of some reason to raise criticism. dagen: you do not believe it will be easy? >> unlike my good friends, you know, it reaches a point that you can say a whole lot of things in the back room, but you are embarrassed to bring those things up forward. the president is entitled, republican or democrat, to select his democrat. you should have pretty darn good reason rather than i think he has changed. i think you will get through the senate. connell: congressman wrangle, it is always great to see you. dagen: charlie rangel. connell: there are people making money on this flu outbreak. dagen: cheryl and dennis ahead with the sick stock pick. really? how you could make some money. ♪ [ male announcer ] where do you turn for legal matters? maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of a
connell: his background, the clinton administration, he came there with the same job with the obama administration. he used to be more "reasonable." he is a much tougher negotiator. >> i suspect no matter who the president is that someone has to think of some reason to raise criticism. dagen: you do not believe it will be easy? >> unlike my good friends, you know, it reaches a point that you can say a whole lot of things in the back room, but you are embarrassed to bring...
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he has been a budget director for the clinton administration, obama administration and they say that is why they picked him. >> in the past quarter of a century jack lew has been an integral part of some of the most important budgetary financial and fiscal agreements, bipartisan agreement in washington. >> "rolling stone magazine" will have to come to the senate and tell what his thoughts are about the spending and how it plans to address it. rich: it is u up to send them to see this another proxy fight to add to the administration on their views about that deficit and spending. back to you. melissa: i have to wonder how his senate confirmation will go to look at comments, there is just a lot of anger and frustration with jack lew hanging over from the past, statements he has made. can he get past the confirmation? >> the question or will there be enough to vote against him? there will be republicans who vote against him but it is questionable if enough will actually block his nomination. only because you still have first off a few democrats saying they have problems with defense sec
he has been a budget director for the clinton administration, obama administration and they say that is why they picked him. >> in the past quarter of a century jack lew has been an integral part of some of the most important budgetary financial and fiscal agreements, bipartisan agreement in washington. >> "rolling stone magazine" will have to come to the senate and tell what his thoughts are about the spending and how it plans to address it. rich: it is u up to send them...
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biden is hearing personal stories of gun violence as he works on the obama administration's response to the shooting rampage in newtown, connecticut, last month. >>> venezuela's supreme court says tomorrow's scheduled inauguration of president hugo chavez can legally be postponed. congress voted to delay the swearing-in because chavez is actually still in cuba where he is developed complications following cancer surgery. >>> those are your headlines on fox business network. i'm gregg jarrett. now back to ashley and tracy. ashley: greg, thank you very much. appreciate that. it hasn't been a good week for boeing's dreamliner that is the understatement of the day. just this afternoon a boeing executive said the 787 recent problems are quote, not raising any safety concerns. our next guest has his rating out. he dropped it from buy to hold saying these problems could indicate even more trouble ahead. joining us is carter leake, senior equity research analyst with bb&t capital markets. carter, thank you very much for being with us. we have had a laundry list of problems with the dreamline
biden is hearing personal stories of gun violence as he works on the obama administration's response to the shooting rampage in newtown, connecticut, last month. >>> venezuela's supreme court says tomorrow's scheduled inauguration of president hugo chavez can legally be postponed. congress voted to delay the swearing-in because chavez is actually still in cuba where he is developed complications following cancer surgery. >>> those are your headlines on fox business network....
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he is a former director and not obama and clinton administration. he will get tapped to be the next treasury secretary, obviously, if confirmed. he has a very close working relationship with president obama. that really is the biggest asset when you talk about this particular white house, for this particular president. if you are that close with him, that is, that raises your chips in your access and accessibility. dagen: in the first well, it will be a nice and lively confirmation process i would think. the first big fight would be that that feeling increase and again, we had that in mid february. anyway to play that out how that will play out assuming jack lu once again is involved and you have to start talking about spending cuts and based on what nancy pelosi said the other day, she has reintroduced the idea of increasing taxes. >> yes. you are hearing that again and again. you are making a point that the president wanted $1.6 trillion that ended up being 600 billion plus. i think you will see democrats calling for more taxes. you will see repub
he is a former director and not obama and clinton administration. he will get tapped to be the next treasury secretary, obviously, if confirmed. he has a very close working relationship with president obama. that really is the biggest asset when you talk about this particular white house, for this particular president. if you are that close with him, that is, that raises your chips in your access and accessibility. dagen: in the first well, it will be a nice and lively confirmation process i...
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a new study reports the obama administration spend more on immigration enforcement in the last fiscal year than on any other federal criminal law enforcement combined. $18 billion spent, more than the budget of the fbi, the d a, secret service, bureau of alcohol and tobacco, really? is this good money spent? gerri willis is here. ashley: i have a feeling. gerri: not what you expect from the president. he seems to be for immigration reform but he is coming down a hard. the number of people removed from this country nearly doubled from 188,000 in 2000 to 409,000 in 2012. the only number that is down is border apprehensions at a four year low and we are doing a lot of that with groans now. ashley: interesting, and did thousand, how many of those come back? >> great point. i feel strongly about this but have to turn to my cohort who actually is not from this country. ashley: i'm a u.s. citizen now. it was very hard to get in. you had to go through a lot of hoops and interviews. when you go through that and come to this country people come in illegally, a is a slap in the face for those wh
a new study reports the obama administration spend more on immigration enforcement in the last fiscal year than on any other federal criminal law enforcement combined. $18 billion spent, more than the budget of the fbi, the d a, secret service, bureau of alcohol and tobacco, really? is this good money spent? gerri willis is here. ashley: i have a feeling. gerri: not what you expect from the president. he seems to be for immigration reform but he is coming down a hard. the number of people...
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long time obama aid. he would fit the practice, the pattern that president established of picking people close to him for key jobs. like jack lew, he is a no-drama figure. somebody whose ego is not out front. he gets along with others. >> at one time he broke with that pattern i suspect when he went with bill daly, not a chicagoan but not part of that inner circle here. >> just thei issue of independence. if jack lew were able to deliver fiscal sanity. if you ask guys in the market, what is one thing they want from the market, first order they want to away from the brinksmanship toward the level of sanity. corporate tax reform. and i guess i want to throw out to the group here, does the appointment of jack lew make more likely less likely or have no impact at all on the possibility that we get a little fiscal sanity from washington? because to my measure, that's the real thing that matters to the market. >> i think it is. >> i would say not much impact to the extent there is any. it would be because he's
long time obama aid. he would fit the practice, the pattern that president established of picking people close to him for key jobs. like jack lew, he is a no-drama figure. somebody whose ego is not out front. he gets along with others. >> at one time he broke with that pattern i suspect when he went with bill daly, not a chicagoan but not part of that inner circle here. >> just thei issue of independence. if jack lew were able to deliver fiscal sanity. if you ask guys in the market,...
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this comes as the obama administration delivers the message to britain saying you're special, but only special if you stay at the heart of the eu. they're under pressure to renegotiation the relationship with brussels. but the u.s. assistant secretary said such a plan would have major consequences. as chairman of the business in europe outlined on cnbc last night. >> we don't want to run the risk of trying to set the bar too high in the sense that there's some fantastic renegotiation we can have where we can cherry pick the bits we like, get rid of the bits we don't, because the chances of that happening are probably close to zero. so we don't want to see any risk in our membership. we want more reform by absolutely we do. we made that very clear in the letter. but we don't want to risk or membership because our membership is responsible for millions of jobs and underpins our future prosperity. >> so that debate is going to em. at the same time, david, you think the pound is going to come under pressure. it's a triple cocktail that's going to undermine it. what is that? >> yeah. that's
this comes as the obama administration delivers the message to britain saying you're special, but only special if you stay at the heart of the eu. they're under pressure to renegotiation the relationship with brussels. but the u.s. assistant secretary said such a plan would have major consequences. as chairman of the business in europe outlined on cnbc last night. >> we don't want to run the risk of trying to set the bar too high in the sense that there's some fantastic renegotiation we...
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lew has been budget director in both the obama and clinton administrations. he will pray a major role of course in negotiations over the debt ceiling and potential spending cuts. the president will make his announcement at 1:30 eastern. it's an event in the east room at the white house. i have to say off the bat just because he's a forest hills guy like me that i, you know, may be a little affinity, we grew up in the same town. >> that alone could be good. >> different generation. >> maybe a technocrat is what's necessary. no one tells me this guy is acrimonious. the talks may have been. but when we're trying to figure out what to cut, maybe you just need a guy who knows his way around the budget as opposed to a federal reserve guy. i thought tim geithner did a great job, though, and i know i find myself in the minority on that, but he came to the rescue of the system in apparel husband time and i think he good a remarkable job. >> jack lew is well respected by both sides of the aisle. and also portrayed as chief tormenter to the republicans. bob woodward in
lew has been budget director in both the obama and clinton administrations. he will pray a major role of course in negotiations over the debt ceiling and potential spending cuts. the president will make his announcement at 1:30 eastern. it's an event in the east room at the white house. i have to say off the bat just because he's a forest hills guy like me that i, you know, may be a little affinity, we grew up in the same town. >> that alone could be good. >> different generation....
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that notes that obama's new administration looks to be basically all male. there is a concern that women are underrepresented. how would you respond to that criticism? >> well, i would agree with that somewhat. we saw valerie on the front page. within the white house. she's the only senior woman. i have a lot of respect for her. but it would be nice to see more diversity, both in the cabinet and in the white house. so i hope this is something that they've focused on going forward. with that said, you know, you need to look at qualifications, too, and people that the president has confidence in. but i would like to see more women. perhaps in the white house, internally in the white house. >> sheila, are you joining us on a week where major banks are putting even more legacy problems behind them to some degree? varying degrees. we've seen what the stocks have done in the past year. we've seen them leading things like the dow. are you surprised or impressed by their progress? >> well, i'm relieved. i still think there are a lot of challenges ahead. the mega ban
that notes that obama's new administration looks to be basically all male. there is a concern that women are underrepresented. how would you respond to that criticism? >> well, i would agree with that somewhat. we saw valerie on the front page. within the white house. she's the only senior woman. i have a lot of respect for her. but it would be nice to see more diversity, both in the cabinet and in the white house. so i hope this is something that they've focused on going forward. with...
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administration has been they don't really care about people with private -- >> you have a long way to go. >> i happen to think jack lew is qualified. look, he's been omb director twice. >> we haven't had a budget in three years. >> he's been chief of staff. he's extraordinarily familiar, we all know, with congress. if you think about the issues immediately ahead which are largely fiscal, he couldn't be better prepared. he has the confidence of the president. he's going to be smoothly confirmed. those are critical criteria. for example, you can't afford in this environment, both globally as well as relative to congress and fiscal cliff, too, you can't afford to nominate someone whose nomination is going to be hung up on the hill. you can't do that. >> former senator judd gregg i heard him this morning saying, look, whether you agree with him or not this is a man who's qualified and he will pass. >> and he's respected on both sides of the aisle. >> and he worked for tip o'neill when tip o'neill was negotiating with ronald reagan and that's an important point. >> he was 20 years old. >>
administration has been they don't really care about people with private -- >> you have a long way to go. >> i happen to think jack lew is qualified. look, he's been omb director twice. >> we haven't had a budget in three years. >> he's been chief of staff. he's extraordinarily familiar, we all know, with congress. if you think about the issues immediately ahead which are largely fiscal, he couldn't be better prepared. he has the confidence of the president. he's going...